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Socialism and Free-Market Capitalism: The Human Prosperity Project


Published: March 31, 2020

For nearly two centuries, societies have weighed the merits of free-market capitalism and socialism. Debates continue over which system maximizes prosperity and better protects individual liberty. The Human Prosperity Project at the Hoover Institution analyzes free-market capitalism and socialism to assess how each system affects human flourishing.

To read all of the essays in this series, click here.

Discussion Questions

  1. After the experience of socialism in the twentieth century, why do you think socialism continues to appeal to many people?
  2. Capitalism is often criticized for creating unequal societies. What kind of inequality exists in socialist economies?

Additional Resources

  • Read “Capitalism, Socialism, and Freedom” by Peter Berkowitz, available here.
  • Read “Capitalism, Socialism, and Nationalism: Lessons from History” by Niall Ferguson, available here.